The Hindu Business Line : Fear can't be banished, but it can be calm

Jogin was studying about the Mithi river management, after having seen the devastation that flooding can cause. Khan was trying to read between the lines of what the PM had said about the media. And Dakshinamoorthy sat analysing the Mukta Arts case. But Sridevi assembled them all for the market chat. Make way!

Sri : Hi everybody. Relieved that Rita was tamer!

Kay: Yes. Overall mood in the market is very bearish. Saw how it hit!

Dax: But I don't think it is the time to dread.

Sri : "Panic is a sudden desertion of us, and a going over to the enemy..."

Jog: "...of our imagination," advises Christian Nestell Bovee!

Kay: Yet, I suspect more people would panic this week…

Sri : Especially in small cap stocks and those in T group.

Jog: Keep watching them and pick them in latter part of the week.

Dax: You will not get good stock otherwise.

Kay: Sorry to say this, but enjoy the fall for this week, don't be alarmed.

Jog: "Faith is the refusal to panic," said David Martyn Lloyd-Jones.

Dax: I tell those sitting on cash, "Stick with it."

Sri : If you're holding investment, sell when you aren't sure about the company or your investments. As for good companies, stick to them.

Kay: Chart patterns suggest possibility of modest upside though the corrective phase is likely to continue.

Dax: There will be some volatility in the market, for sure.

Jog: To me the rise in the stock price for some time is halted.

Sri : So, forget about short-term returns.

Kay: Good news, long-term bull-run will continue.

Dax: What's happening now is the much-awaited correction.

Sri : No buyers were seen in penny stocks last Thursday and Friday.

Jog: Because investors got stuck there, not being able to sell.

Kay: Some volatility can be due to derivative closings in 4 days from now.

Dax: Heard that current down levels can be used for making fresh purchases in good quality stocks. And wait for the next upward run.

Kay: It may sound philosophical but previous record highs will be cleared if one has the patience to hold and forget about the holdings.

Sri : I don't understand what you say. Many times ignorance is bliss! :-)

Jog: Anybody worked on last week's numbers?

Dax: Yes, I did. Steel Authority made a gain of 3.7 per cent on Sept 19.

Sri : And ITC was up by almost a similar percentage.

Kay: Tata Steel earned 1.7 per cent last Monday.

Dax: GHCL, ACC and Suven Life ended +ve. This week, bargain hunters?

Jog: One such stock to be picked if it falls further is Sanjevani Parental.

Sri : The stock is down from Rs 90 to Rs 65. Pick it at Rs 60?

Kay: Infy quarterly results in Oct should prop the sentiment for the stock. One can accumulate SPL and Sujana Metal after some correction.

Dax: Mukta Arts may slip... with further investigation into its investment!

Sri : I'm watching banking sector stocks such as SBI and HDFC.

Dax: Centurion Bank? Remember its recent deal with another bank?

Sri : Market may not be paying heed yet, but there may be good news…

Jog: The bank is yet to shed its (negative?) image fully.

Kay: Around Rs 20. Probably the lowest-priced bank stock at the moment.

Dax: In other sectors - Sesa Goa, Indian Hotels, Tata Tea and Bharti may show firm trend.

Jog: Street talk suggests enhanced interest in IFCI, Hindustan Motors and Aksh Optifibre.

Dax: McDowell may rule firm, as there's considerable progress in the merger process.

Kay: Electrosteel Castings has been creeping up again, say the market watchers, referring to the stock's steady rise from slightly above Rs 400 to nearly Rs 460 and more.

Sri : The sudden downturn has punctured all this!

Jog: IGL, Indrapastha Gas, is back to sub Rs 120...

Dax: After staying beyond it fleetingly. There is a potential!

Kay: Expanding market and the belief that gas cos are here to stay.

Sri : "Fear cannot be banished, but it can be calm and without panic; it can be mitigated by reason and evaluation," an insight of Vannevar Bush.

Have a healthy, happy heart!

Lee, with inputs from Vir, Nat, Mad, Nil, The and Sve.

Send in your views to: Chat@TheHindu.co.in

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